Minimum Viable Product (MVP)
A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future development. The MVP is not the final product; it is a tool that helps businesses validate their ideas and assess customer reactions before investing too much time and resources into further development.
Building an MVP can be a great way to save time and money while still getting valuable feedback from customers. But how do you know what features to include in your MVP? And how do you prioritize those features?
What is an MVP?
The purpose of an MVP is to provide customers with a reliable, functional product that can be used in the most simple and convincing way possible. It should be capable of performing its core function effectively and be genuinely useful. Various types of MVPs exist depending on their purpose and format.